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| Version 1 | Version 2 |
|---|---|
| Manchester City post massive loss | Manchester City post massive loss |
| (20 minutes later) | |
| Manchester City football club has reported an annual loss of £92.6m ($148m) for the 2008/09 financial year. | Manchester City football club has reported an annual loss of £92.6m ($148m) for the 2008/09 financial year. |
| The figures reflect the large sums of money spent on top-class players by Sheikh Mansour since he bought the Eastlands club in September 2008. | The figures reflect the large sums of money spent on top-class players by Sheikh Mansour since he bought the Eastlands club in September 2008. |
| They include the £32.5m signing of Brazilian star Robinho. | They include the £32.5m signing of Brazilian star Robinho. |
| The figures do not take into account the further large outlay since May 2009 on players such as Carlos Tevez, Kolo Toure and Emmanuel Adebayor. | The figures do not take into account the further large outlay since May 2009 on players such as Carlos Tevez, Kolo Toure and Emmanuel Adebayor. |
| 'Transformation' | 'Transformation' |
| "The financial results reflect a period of rapid change at the club, the result of long-term planning and investment by the board and our owners, to create a sustainable business in the future," said City's chief financial and administration officer, Graham Wallace. | "The financial results reflect a period of rapid change at the club, the result of long-term planning and investment by the board and our owners, to create a sustainable business in the future," said City's chief financial and administration officer, Graham Wallace. |
| "We have always said that this transformation will take a number of years and these figures reflect that." | "We have always said that this transformation will take a number of years and these figures reflect that." |
| Other players bought during the financial period included Craig Bellamy and Shay Given. | Other players bought during the financial period included Craig Bellamy and Shay Given. |
| Away from player transfer costs, there were some positive signs in other aspects of the business. | Away from player transfer costs, there were some positive signs in other aspects of the business. |
| Turnover was up 6% to £87m, while average attendances rose slightly, to 42,890 from 42,081 the year before. | Turnover was up 6% to £87m, while average attendances rose slightly, to 42,890 from 42,081 the year before. |
| A run to the latter stages of the UEFA Cup helped boost ticket revenues by £1.8m, and TV income was up by 12% to £48.3m, also boosted by the European run. | A run to the latter stages of the UEFA Cup helped boost ticket revenues by £1.8m, and TV income was up by 12% to £48.3m, also boosted by the European run. |